It may only be small but the Sydney suburb of Meadowbank is having a big property moment.
The riverside enclave started making real estate news headlines in 2016 after landing a surprise position near the top of one of the most prestigious league tables of Sydney’s liveable suburbs, ranking among traditional favourites such as Bondi and Randwick.
Savvy buyers have been homing in on Meadowbank ever since, recognising the immediate benefits and future potential of its waterside location, accessibility to the city and affordability.
Ray White Projects director Eddie Mansour says the surging interest from both owner-occupiers and investors is reflected in the popularity of new Meadowbank apartment development Allura, where only nine apartments remain out of 35.
The boutique project is due for completion in mid-2019.
Allura will have two buildings of seven levels, each with a communal rooftop garden. All dwellings have a balcony or courtyard and at least one secure underground parking space.
Lifts and an intercom system service both buildings. Allura faces two streets — Bowden and Angas — and is within walking distance of TAFE NSW Meadowbank, one of the biggest campuses in the TAFE network.
Construction is about to begin at the site, coinciding with the release of new research into off-the-plan apartment sales in Australia that indicates increased confidence.
In a recent assessment of sentiment, global sales platform Investorist has found that there is optimism for the future among developers, despite recent market uncertainty. Seventy per cent of those surveyed expected to improve sales this financial year compared with the last.
Mr Mansour says market optimism has been reflected in the high level of interest in Allura from couples, families, downsizers and one lesser-known category — apartment upsizers.
“With three-bedroom apartments among the dwellings available, Allura is also an opportunity for families who want to upsize from maybe a one-bed or small two-bedroom apartment,” he says.
“The vision of award-winning architect Design Cubicle is for modern, appropriately sized apartments and designs that accommodate a range of buyers.”
Allura’s rooftop gardens and higher-level apartments will have district and water views. A trip to the Sydney CBD is 45 minutes by rail or 40 minutes by water.
“The options for a city commute from Meadowbank are the envy of many other Sydneysiders,” Mr Mansour says.
“From your front door at Allura, it’s a four-minute walk to the train station or a six-minute walk to the ferry wharf.
Allura’s developer, Macmillan Projects, is a privately owned property development and construction group that has delivered many high-quality residential projects across Sydney.
“Macmillan Projects has more than 20 years of knowledge and experience across the building industry and is one of Sydney’s most trusted and respected property development groups,” Mr Mansour says.
Two-bedroom apartments range in price from $795,000 to $850,000. The one remaining three-bedroom apartment is $1,150,000.
Allura is located at 121 Bowden Street and 2A Angas Street, Meadowbank.
| Two-bedroom apartment | Three-bedroom apartment | |
| Price | $795,000 to $850,000 | $1,150,000 |
| Internal area | 78.5–80sq m | 101sq m |
| External area | 10-16sq m | 43sq m |
| Strata guide* | $800-$850 | |
*lowest per quarter
To find out more, visit the website or phone Ray White Projects on 1300 454 566.
